MIRA INFORM REPORT

 

 

Report No. :

329842

Report Date :

04.07.2015

 

IDENTIFICATION DETAILS

 

Name :

PEARSON DRUMS AND BARRELS PRIVATE LIMITED

 

 

Registered Office :

P-24 and S-25, Kasba Industrial Estate, Kolkata-700078, West Bengal

Tel. No.:

91-33-24420112

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

21.03.1989

 

 

Com. Reg. No.:

21-046520

 

 

Capital Investment / Paid-up Capital :

Rs. 48.459 Million

 

 

CIN No.:

[Company Identification No.]

U28992WB1989PTC046520

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of Drums, Barrels and related Accessories.

 

 

No. of Employees :

Not Divulged

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (44)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated during the year 1989. It is dealing in the business of manufacturing of iron drums, barrels and other metal containers and to do all other work allied or relevant thereto. It has a satisfactory track record.

 

For the financial year 2014, the company has healthy operational activity along with top line growth of 13.9% but it has thin profitability margin.

 

The company has stable financial risk profile marked by good reserves and decent net worth position of the company.

 

Trade relations are reported as fair. Business is active. Payments terms are slow but correct.

 

In view of long business track record, the company can be considered normal for business dealings at usual trade terms and conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

NOT AVAILABLE

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

 

 

INFORMATION DECLINED BY

 

Name :

Mr. T. Sen

Designation :

Accountant

Contact No.:

91-9594977228

Date :

03.07.2015

 

 

 

 

 

LOCATIONS

 

Registered Office :

P-24 and S-25, Kasba Industrial Estate, Kolkata-700078, West Bengal, India

Tel. No.:

91-33-24420112/ 24431516

Mobile No.:

91-9594977228 (Mr. T. Sen)

Fax No.:

91-33-24420069

E-Mail :

pdbl@cal3.vsnl.net.in

amitkumarsaha1955@gmail.com

Website :

http://www.pearsondrums.in

 

 

Factory 1 :

P-24, Kasba Industrial Estate (Phase:1) E.M. Bypass, Kolkata-700107, West Bengal, India

Tel. No.:

91-33-24420112/ 6792/ 0096/ 30919276

Fax No.:

91-33-24420069

E-Mail :

pdbl@cal3.vsnl.net.in

 

 

Factory 2 :

L-103, MIDC, Taloja Industrial Area, District Raigad, Maharashtra, India

Tel. No.:

91-22-27410903/ 27402572/ 27574681

E-Mail :

pearson@vsnl.com

 

 

Overseas Offices :

Located at :

 

·         Canada

·         Dubai

·         Bahrain

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Arun Kumar Saha

Designation :

Managing Director

Address :

AC-3 Saha Bagan, Baguiati, P.O. Jyangra, Kolkata-700059, West Bengal, India

Date of Birth/Age :

25.06.1955

Date of Appointment :

21.03.1989

PAN No.:

AMBPS1749R

DIN No.:

00231901

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

1

U28992WB1989PTC046520

PEARSON DRUMS AND BARRELS PRIVATE LIMITED

Managing Director

21-03-1989

21-03-1989

Active

NO

2

U70101WB2002PTC095032

PRIME REALTORS PRIVATE LIMITED

Director

20-08-2002

20-08-2002

Active

NO

 

 

Name :

Mr. Tarun Kumar Saha

Designation :

Director

Address :

AC-3 Saha Bagan, Baguiati, P.O. Jyangra, Kolkata-700059, West Bengal, India

Date of Birth/Age :

10.06.1961

Date of Appointment :

30.09.1997

PAN No.:

ALSPS6158C

DIN No.:

00664280

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

1

U28992WB1989PTC046520

PEARSON DRUMS AND BARRELS PRIVATE LIMITED

Director

30-09-1997

30-09-1997

Active

NO

2

U70101WB2002PTC095032

PRIME REALTORS PRIVATE LIMITED

Director

03-11-2006

03-11-2006

Active

NO

 

 

Name :

Mr. Suptasree Saha

Designation :

Director

Address :

AC-3 Saha Bagan, Baguiati, P.O. Jyangra, Kolkata-700059, West Bengal, India

Date of Birth/Age :

01.07.1960

Date of Appointment :

21.03.1989

PAN No.:

AMBPS8758A

DIN No.:

00694888

 

 

Name :

Mr. Seuly Saha

Designation :

Director

Address :

AC-3 Saha Bagan, Baguiati, P.O. Jyangra, Kolkata-700059, West Bengal, India

Date of Birth/Age :

02.11.1969

Date of Appointment :

21.03.1989

PAN No.:

ALXPS8341J

DIN No.:

00882013

 

 

KEY EXECUTIVES

 

Name :

Mr. T. Sen

Designation :

Accountant

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

NOTE: SHAREHOLDING DETAILS FILE ATTACHED

 

 

AS ON 30.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage of Holding

Bodies corporate

21.82

Directors or relatives of Directors

62.60

Other top fifty shareholders

15.58

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Drums, Barrels and related Accessories.

 

 

Products :

--

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

 

PRODUCTION STATUS : NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

·         Indian Oil Corporation Limited

·         Hindustan Petroleum Corporation Limited

·         DIC India Limited

·         Manaksia Limited

·         Shalimar Paints Limited

 

 

No. of Employees :

Not Divulged

 

 

Bankers :

Bank Name:

State Bank of India

Branch:

Chowringhee Branch, 38B, Chowringhee Road, Kolkata -700071, West Bengal, India

Person Name (with Designation):

Not Divulged

Contact Number:

Not Divulged

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         Bank Of Baroda

SME Kasba Branch, 837 Rajdanga Main Road, Kolkata - 700107, West Bengal, India

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG TERM BORROWINGS

 

 

State Bank of India Term Loan for Factory Building

18.673

4.533

 

 

 

SHORT TERM BORROWINGS

 

 

State Bank of India

 

 

Cash Credit and Overdraft

162.204

161.539

ICICI Bank

0.000

0.705

State Bank of India SLC

(Secured by Hypothecation of inventories and Book Debts both present and future together with charge on all Fixed Assets as well as movable assets / current assets of the company and Personal Guarantee of the Directors.)

24.347

24.310

Car Loan

(Secured by hypothecation of car and personal quarantine of the Director)

0.980

1.319

Total

206.204

192.406

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Mitra Mallick and Associates

Chartered Accountants

Address :

Titas Apartment, 2nd Floor, Flat No. B-2, Hatiara Road, Jyangra, Baguiati, Kolkata-700059, West Bengal, India

Income-tax PAN of auditor or auditor's firm :

AAHFM4509P

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

Not Available

 

 

 

 

 

CAPITAL STRUCTURE

 

AFTER 30.09.2014

 

Authorised Capital : Rs. 49.900 Million

 

Issued, Subscribed & Paid-up Capital : Rs. 49.409 Million

 

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

490000

Equity Shares

Rs.100/- each

Rs. 49.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

484593

Equity Shares

Rs.100/- each

Rs. 48.459 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2014

31.03.2013

31.03.2012

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

48.459

45.259

45.259

(b) Reserves & Surplus

92.188

84.589

82.141

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

5.496

4.096

Total Shareholders’ Funds (1) + (2)

140.647

135.344

131.496

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

28.679

10.640

6.984

(b) Deferred tax liabilities (Net)

1.405

1.405

1.405

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

30.084

12.045

8.389

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short-term borrowings

187.531

187.873

186.982

(b) Trade payables

151.412

133.491

113.741

(c) Other current liabilities

8.650

7.919

6.016

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

347.593

329.283

306.739

 

 

 

 

TOTAL

518.324

476.672

446.624

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

71.106

54.840

45.625

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.496

0.496

0.496

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

7.642

7.642

7.641

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

79.244

62.978

53.762

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

311.561

265.387

248.978

(c) Trade receivables

96.782

124.131

115.652

(d) Cash and cash equivalents

13.519

10.316

17.136

(e) Short-term loans and advances

17.199

13.837

11.067

(f) Other current assets

0.019

0.023

0.029

Total Current Assets

439.080

413.694

392.862

 

 

 

 

TOTAL

518.324

476.672

446.624

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

TOTAL                                     (A)

636.857

555.835

598.628

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                     (B)

596.790

517.425

555.766

 

 

 

 

 

 

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

40.067

38.410

42.862

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

32.210

31.960

35.015

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

7.857

6.450

7.847

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

2.918

2.278

2.384

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

4.939

4.172

5.463

 

 

 

 

 

Less

TAX                                                                  (H)

1.730

1.360

1.926

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

3.209

2.812

3.537

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

44.217

41.405

37.868

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

47.426

44.217

41.405

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

22.947

27.904

23.298

 

TOTAL EARNINGS

22.947

27.904

23.298

 

 

 

 

 

 

Earnings Per Share (Rs.)

6.62

5.80

7.30

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

 

 

 

 

Cash generated from operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Return on Total Assets

(PBT/Total Assets}

(%)

0.97

0.89

1.25

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.04

0.03

0.04

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

1.54

1.47

1.48

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.26

1.26

1.28

 

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

45.259

45.259

48.459

Reserves & Surplus

4.096

84.589

92.188

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

4.096

5.496

0.000

Net worth

53.451

135.344

140.647

 

 

 

 

Long-term borrowings

6.984

10.640

28.679

Short term borrowings

186.982

187.873

187.531

Total borrowings

193.966

198.513

216.210

Debt/Equity ratio

3.629

1.467

1.537

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

598.628

555.835

636.857

 

 

(7.149)

14.577

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

598.628

555.835

636.857

Profit

3.537

2.812

3.209

 

0.59%

0.51%

0.50%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report

(Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

No

18

Major suppliers

No

19

Major customers

Yes

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10181588

10/02/2012 *

314,000,000.00

STATE BANK OF INDIA

CHOWRINGHEE BRANCH, 38B, CHOWRINGHEE ROAD, KOLKAT
A-700071, West Bengal, INDIA

B35531425

 

* Date of charge modification

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Unsecured Loan

9.806

6.107

 

 

 

Total

9.806

6.107

 

 

OPERATIONS:

 

The operation of the Company during the year 2013 – 14 was satisfactory. During the year, the sales turnover was Rs. 625.387 Million as against Rs. 548.806 Million in the previous year. Barring unforeseen circumstances the Directors expect better prospect of the Company in coming years.

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency

 
Unit

Indian Rupees

US Dollar

1

Rs. 63.40

UK Pound

1

Rs. 98.94

Euro

1

Rs. 70.33

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

IND

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

4

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

44

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.